FYI Miami: February 2, 2015
BONDS FOR THE STADIUM: The Miami-Dade County Commission has approved issuance of $100 million in taxable industrial revenues bonds to fund part of the reconstruction of Sun Life Stadium in Miami Gardens. Sun Life Stadium, home to the Miami Dolphins, is to undergo a $425 million reconstruction. Of that, $275 million is to be covered by the stadium’s owners, and another $50 million is to be covered through a commercial loan program. The Miami-Dade County Industrial Development Authority (IDA) is an entity separate from county government that issues bonds on behalf of projects deemed economically feasible. Neither IDA nor the county is liable to pay off the bonds. The Miami-Dade County Commission has to approve the issuance as a check on IDA. Reconstruction at the stadium is to be finished in 2017.
NO TO WAL-MART, THEME PARK: The Pinecrest Village Council has voted to oppose development in an area in South Miami-Dade County that’s home to pine rockland. Pine rockland harbors endangered plant and animal species. The targeted area is near Zoo Miami and is officially the Richmond Pineland complex. Two developments have been proposed for the area: Coral Reef Commons, which is to include a Wal-Mart, and Miami Wilds, a theme park to include water rides. The developer behind Coral Reef Commons, Ram Real Estate, has put certain plans on hold to negotiate with federal authorities, according to county records. The county has also retained the authority to pull any county permit to Ram. In addition, county and federal officials are negotiating the logistics of the Miami Wilds development to make sure the theme park wouldn’t harm the environmental site.
BIKE RACKS REMOVED: After a flurry of complaints from Brickell residents, Miami city commissioners ordered removal of new bike-sharing stations from Brickell Bay Drive and 25th Road. The Citi Bike program operated by Decobike LLC is Miami’s bike sharing and rental system. Citi Bike is intended to provide an additional transportation option. Working with city staff, the rental islands were placed in nearly 50 locations throughout the city late last year. Complaints were lodged immediately by condo dwellers in Brickell, saying the Citi Bike stations were taking up valuable parking spaces and impacting the view of Biscayne Bay. Racks at these locations were ordered removed: 801, 1408 and 1440 Brickell Bay Drive and at 25th Road and Brickell Avenue. The motion commissioners approved said those racks are to be “repositioned” in accordance with the commission’s District Two office, and the advice and consent of adjacent property owners will be sought.